- To reflect rising costs of production and inflation, Northern Graphite Corp. (TSXV:NGC) has negotiated significant price increases with customers for its graphite this year
- The Ottawa-based company also announced that the Lac des Iles (LDI) processing facility, halted for maintenance on Nov. 2, 2024, will resume operations on Jan. 13, 2025
- Increasing production at the LDI mine is important for Northern’s goal of becoming a fully integrated supplier, serving both traditional downstream customers and the growing market for battery anode materials and next-generation solid-state battery chemistries
- Northern Graphite stock (TSXV:NGC) last traded at $0.14
Northern Graphite Corp. (TSXV:NGC) has negotiated significant price increases with customers for its graphite this year.
This move was said to reflect rising costs of production and inflation.
The Ottawa-based company also announced that the Lac des Iles (LDI) processing facility in Québec, halted for maintenance on Nov. 2, 2024, will resume operations on Jan. 13, 2025.
“In order to ensure increased, stable production in 2025 and keep up with rising market demand, we have successfully completed a maintenance shutdown at the Lac des Iles mill,” the company’s CEO Hugues Jacquemin explained in a news release. “We have also negotiated new pricing with our customers to accommodate inflation and the rising costs of production. We are starting the year with a strong order book, reflecting continued robust demand as well as recent geopolitical events and supply chain concerns.”
Increasing production at the LDI mine is important for Northern’s goal of becoming a fully integrated supplier, serving both traditional downstream customers and the growing market for battery anode materials and next-generation solid-state battery chemistries. In April 2024, the company transitioned the LDI plant to a seven-day-a-week schedule, resulting in a 59 per cent increase in output compared to the previous year. Northern also has plans to further enhance production levels.
Northern Graphite is a Canadian company focused on becoming a world leader in producing natural graphite and upgrading it into high-value products critical to the green economy.
Northern Graphite stock (TSXV:NGC) last traded at $0.14 and has risen more than 115 per cent over the past three months.
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(Top image: Northern Graphite Corp.)